RBI Imposes Rs 10k Penalty on Samruddhi Sahakari Bank, Maharashtra

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹10,000 on Samruddhi Sahakari Bank Ltd., located in Nandgaon in Nashik district of Maharashtra. The penalty was imposed through an order dated 27th February, 2026 for non-compliance with RBI directions regarding the “Submission of Data by Credit Institutions”. 

The penalty was imposed under powers granted to the RBI under Section 25 of the Credit Information Companies (Regulation) Act, 2005. The action followed a statutory inspection conducted by the RBI with reference to Samruddhi Sahakari Bank’s financial position as on 31st March, 2025. During the inspection, supervisory findings indicated non-compliance with RBI directions. Based on the said findings, the RBI issued a notice to the bank seeking explanation on why a penalty should not be imposed for failing to comply with the directions. 

After reviewing the bank’s written response and oral submissions during a personal hearing, the RBI determined that the charge against the bank was sustained. The RBI found that the bank had failed to submit credit information of its customers to any of the Credit Information Companies (CICs). 

Source: RBI